Xponance Inc. Decreases Stake in nVent Electric plc (NYSE:NVT)

Xponance Inc. lessened its stake in nVent Electric plc (NYSE:NVT) by 9.3% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 17,930 shares of the company’s stock after selling 1,828 shares during the quarter. Xponance Inc.’s holdings in nVent Electric were worth $1,374,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Signaturefd LLC lifted its stake in nVent Electric by 22.0% during the second quarter. Signaturefd LLC now owns 860 shares of the company’s stock worth $66,000 after purchasing an additional 155 shares during the last quarter. FinTrust Capital Advisors LLC increased its position in nVent Electric by 17.5% during the fourth quarter. FinTrust Capital Advisors LLC now owns 1,056 shares of the company’s stock worth $62,000 after buying an additional 157 shares during the period. EverSource Wealth Advisors LLC increased its position in nVent Electric by 15.7% during the first quarter. EverSource Wealth Advisors LLC now owns 2,008 shares of the company’s stock worth $145,000 after buying an additional 272 shares during the period. Sciencast Management LP increased its holdings in shares of nVent Electric by 7.1% in the first quarter. Sciencast Management LP now owns 4,397 shares of the company’s stock valued at $332,000 after purchasing an additional 293 shares during the period. Finally, Banque Cantonale Vaudoise increased its holdings in shares of nVent Electric by 87.2% in the second quarter. Banque Cantonale Vaudoise now owns 642 shares of the company’s stock valued at $49,000 after purchasing an additional 299 shares during the period. Hedge funds and other institutional investors own 90.05% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on NVT. Barclays boosted their target price on nVent Electric from $85.00 to $95.00 and gave the company an “overweight” rating in a report on Tuesday, June 4th. KeyCorp upgraded nVent Electric from a “sector weight” rating to an “overweight” rating and set a $80.00 target price on the stock in a research report on Wednesday, September 4th. Finally, Royal Bank of Canada decreased their target price on nVent Electric from $88.00 to $82.00 and set an “outperform” rating on the stock in a research report on Wednesday, August 7th. Six research analysts have rated the stock with a buy rating, According to MarketBeat.com, nVent Electric has a consensus rating of “Buy” and an average price target of $86.50.

nVent Electric Stock Up 0.2 %

Shares of NYSE:NVT opened at $70.93 on Friday. The company has a market capitalization of $11.78 billion, a P/E ratio of 20.68, a P/E/G ratio of 1.35 and a beta of 1.27. The stock’s fifty day simple moving average is $66.85 and its 200-day simple moving average is $73.35. nVent Electric plc has a 52-week low of $45.60 and a 52-week high of $86.57. The company has a quick ratio of 1.49, a current ratio of 2.17 and a debt-to-equity ratio of 0.53.

nVent Electric (NYSE:NVT) last released its earnings results on Tuesday, August 6th. The company reported $0.82 EPS for the quarter, missing the consensus estimate of $0.83 by ($0.01). The business had revenue of $880.30 million during the quarter, compared to analyst estimates of $892.89 million. nVent Electric had a net margin of 16.59% and a return on equity of 17.21%. The business’s revenue for the quarter was up 9.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.77 earnings per share. As a group, equities research analysts forecast that nVent Electric plc will post 3.26 earnings per share for the current fiscal year.

nVent Electric Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 1st. Investors of record on Friday, October 18th will be paid a $0.19 dividend. The ex-dividend date is Friday, October 18th. This represents a $0.76 annualized dividend and a yield of 1.07%. nVent Electric’s payout ratio is currently 22.16%.

Insider Activity at nVent Electric

In other nVent Electric news, Director Herbert K. Parker bought 7,566 shares of the company’s stock in a transaction that occurred on Thursday, August 15th. The stock was purchased at an average cost of $65.71 per share, for a total transaction of $497,161.86. Following the completion of the purchase, the director now owns 34,524 shares of the company’s stock, valued at approximately $2,268,572.04. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. In other nVent Electric news, EVP Lynnette R. Heath sold 8,242 shares of the company’s stock in a transaction dated Wednesday, August 7th. The stock was sold at an average price of $60.26, for a total transaction of $496,662.92. Following the completion of the sale, the executive vice president now directly owns 30,432 shares in the company, valued at $1,833,832.32. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Herbert K. Parker purchased 7,566 shares of the company’s stock in a transaction on Thursday, August 15th. The shares were purchased at an average price of $65.71 per share, with a total value of $497,161.86. Following the completion of the purchase, the director now directly owns 34,524 shares of the company’s stock, valued at $2,268,572.04. The disclosure for this purchase can be found here. Insiders own 2.50% of the company’s stock.

nVent Electric Profile

nVent Electric plc, together with its subsidiaries, designs, manufactures, markets, installs, and services electrical connection and protection solutions in North America, Europe, the Middle East, Africa, the Asia Pacific, and internationally. The company operates through three segments: Enclosures, Electrical & Fastening Solutions, and Thermal Management.